Greenland Capital Management LP Lowers Stake in Robinhood Markets, Inc. $HOOD

Greenland Capital Management LP reduced its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 37.1% in the second quarter, HoldingsChannel.com reports. The firm owned 4,290 shares of the company’s stock after selling 2,533 shares during the period. Greenland Capital Management LP’s holdings in Robinhood Markets were worth $402,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WCM Investment Management LLC boosted its holdings in Robinhood Markets by 3,615.7% in the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after buying an additional 11,244,182 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of Robinhood Markets in the second quarter valued at about $951,479,000. Vanguard Group Inc. boosted its stake in shares of Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the period. AGF Management Ltd. boosted its stake in shares of Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after acquiring an additional 4,255,862 shares during the period. Finally, Wealthquest Corp purchased a new stake in shares of Robinhood Markets during the first quarter worth about $156,193,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Performance

Shares of HOOD opened at $118.16 on Thursday. The stock has a market capitalization of $106.25 billion, a PE ratio of 49.03, a P/E/G ratio of 2.57 and a beta of 2.42. The company’s fifty day moving average is $132.71 and its 200 day moving average is $104.20. Robinhood Markets, Inc. has a fifty-two week low of $29.66 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the company posted $0.17 EPS. The business’s revenue was up 100.0% on a year-over-year basis. As a group, research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Mizuho boosted their price target on Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. KeyCorp lifted their price objective on shares of Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. JMP Securities boosted their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Robinhood Markets in a research note on Thursday, November 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $140.00 price target (up from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.95.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 1,330,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $128.47, for a total value of $170,865,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 1,093,288 shares of Robinhood Markets stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the transaction, the director owned 3,976,234 shares of the company’s stock, valued at approximately $413,011,425.58. This trade represents a 21.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 5,134,080 shares of company stock worth $626,549,514 in the last 90 days. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Profile

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.